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Contributor
Posts: 28
Registered: ‎02-01-2015

Re: Leasing a Vehicle vs Purchasing

5 years   
    
leasing   
payments 600x6036000.00
what you have when done  0.00
    
pay cash   
pay 40,000   
put 600 a month backx6036000.00
car value  15000.00
what you have when done  51000.00
Contributor
Posts: 59
Registered: ‎05-03-2010

Re: Leasing a Vehicle vs Purchasing

We have leased for years, always get a new vehicle every 2-3 years.  (Sorry but we're from Detroit!)  In that time, things don't usually go bad so no maintenance expenses.  What I like best is just turning the car in to the dealer rather than trying to sell it yourself, which could be a dangerous proposition sometimes with bad people trying to steal your car.

Respected Contributor
Posts: 2,040
Registered: ‎06-08-2016

Re: Leasing a Vehicle vs Purchasing

Leasing is a scam.    So if you are financially stable, just buy outright.    

I buy cars, no payments.    Another scam, financing a car.   Even at zero interest.

 

I agree with you.

 


gidgetgh wrote:

I'm not a fan of leasing. You pay and you pay and you pay and at the end of the lease you have nothing. 


 

Contributor
Posts: 24
Registered: ‎03-31-2010

Re: Leasing a Vehicle vs Purchasing

If you had listened to Suze Orman, she stated that leasing a vehicle is not a wise decision unless you want to impress people with a vehicle you cannot in reality afford.  So, unless you are going to lease a Lexus to impress someone, buy instead of lease. She also stated that leasing a car was a "no win" situation.

Honored Contributor
Posts: 18,914
Registered: ‎03-09-2010

Re: Leasing a Vehicle vs Purchasing

My DH always had company cars and got a new one yearly. Now we are retired he just refuses to keep a car for longer than 3 years. For us - since he is going to sell the car in 3 years anyway - we are better off to lease than buy. Even taking the car north to Pa. and back each year we have not exceeded the milage. In the past we always bought insurance that would cover the costs of any scratches etc they may find on the car when we turned it in as there are always some - and they charge you for those - can potentially be hundreds of dollars. Well, this fall when we returned our SUV and  leased a new one (Buick) they informed us that this insurance no longer exists. Now we are very nervous about getting any , even slight , damage to the car.

Honored Contributor
Posts: 18,914
Registered: ‎03-09-2010

Re: Leasing a Vehicle vs Purchasing

[ Edited ]

@queendiva  You negiotiate your price just the same as when you buy then the lease is based on that negiotiated price. For instance - we chose a 2016 Buick Enclave that they had left over when the 2017 models came out. They immediately gave us a large discount off the stiucker for that, then we had GM points on our GM credit card plus my DH gets the GM retiree discount because his company was a GM supplier, and in the end we had $14,500 off the sticker, that was the price our lease was based upon.

Trusted Contributor
Posts: 1,517
Registered: ‎03-12-2010

Re: Leasing a Vehicle vs Purchasing

@151949: Thank you. My leasing days are behind me. 

Honored Contributor
Posts: 18,914
Registered: ‎03-09-2010

Re: Leasing a Vehicle vs Purchasing

My friend's SIL owns a car dealership and he gets her fabulous deals on cars that have been turned in after only a one or two year lease. That is where to look for a car.

Valued Contributor
Posts: 533
Registered: ‎07-18-2010

Re: Leasing a Vehicle vs Purchasing

consumer Reports has done a number of articles on leasing versus buying through the years. Always, always the least expensive is buying the car and keeping it after it's been paid for. So if you have  no trouble always having a car payment then this is the way to go because you can turn it in and get a new car.

 

That is a very expensive way to get an automobile. Actually one of the cheapest is buying a low mileage car that you want with a couple years on it, and also continue to drive it after you've paid for it.  The key is keeping the car after it has been paid for, then you do have trade-in value.

Esteemed Contributor
Posts: 5,516
Registered: ‎09-22-2010

Re: Leasing a Vehicle vs Purchasing

Leasing is a cheaper way to get a car but unless you can write a portion of the car off it does not seem like a good financial sense.  I always pay cash for cars because I do not like to pay interest.  I pay my credit cards off every month also.  

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